Hey There!
While we typically see a rise in new listings at the beginning of the year, this year saw a marked increase in new listings – possibly a good sign for buyers in the coming months. The number of newly listed homes in January was an incredible 66.3% higher than in December. Year-over-year trends have been on the decline, with fewer homes on the market in January 2023 than in January 2022, and similarly from 2022 to 2021. This year, however, saw a jump of 21.5% over the previous year.
Three more noteworthy highlights from January’s National Housing Report:
- The median sales price remained steady from December 2023 to January 2024 at $405,000.
- Overall home sales were down 19.1% from December, slightly lower than previous years’ holiday drop.
- ​Homes are moving slightly faster, with an average of 45 days on the market before selling. This is one day less than in December 2023 and three days less than January 2023.
This is an encouraging start to the year. If the trend continues with new listings emerging and potential drops in interest rates, 2024 could be a year of opportunity for both buyers and sellers.
Read full report By Clicking HERE
If you’d like more insight into the information in January’s report – and what it might mean for you – please give us a call! 951-383-7557
Chris and Andrea Murray
Broker | Owners
24663 Monroe Ave B101 Murrieta CA 92562
DRE#01474696 & 01339816